Life Insurance
About Endowment Life InsuranceEndowment life insurance is a type of life insurance policy in which a lump sum is paid at the end of the policy term or in the event of death of the policy holder. The amount of premium to be paid is large and can be paid as a lump sum or in regular intervals. These amounts are invested in many investment portfolios in order to build up cash value in the policy.
Traditional With Profits Endowments - The policy holder is paid a lump sum after a specified number of years. Other additional payments include bonuses from investments and these include regular bonuses and non-guaranteed bonuses. Unit-linked endowment - The premiums paid by the policy holder is divided into units which are then invested into unitized insurance funds. Full endowments - Here the policy holder receives accumulated profits when the payment has to be made at the time of policy expiry or in the event of death. The amount received here is larger. Low cost endowment - As the name suggests, this is a low cost endowment policy and a minimum lump sum payment is required for a minimal death payment to beneficiaries on death of the policy holder. Traded endowment - This is a traditional endowment policy with profit sold off to a new person during the tenure of the policy term. The person buying it can be charged more than what the policy will pay as death benefits. Before you sign up the endowment policy, make sure to read up all terms and conditions of the policy so that you can make an informed decision. Look into how the policy will pay out and conditions under which claims can be made on it, before signing up.
|
|||
Life Insurance Learning centreLife InsuranceVery vital and one of the most important insurances About Life Insurance What is Life Insurance? Why do you need to take life insurance?Why Life Insurance is needed? Tips on what to ask your broker when taking up a life insurance policySome tips on what you can ask your agent Donating your life insurance for cashYou can donate your life insurance for cash. Factors to consider before taking up Life InsuranceImportant factors to consider before taking up life insurance policy How do you choose a life insurance company?Find out the procedure that helps in taking life insurance in easier way About Group Life InsuranceGroup Life Insurance is the one that is offered by the employer Cash Value InsuranceAn insurance by which you can avail cash return from your policy Accidental Death InsuranceInsurance paid out when there is a loss to due to an accident About Term Life InsuranceOne of the most common and the least expensive life insurances. Whole Life InsuranceAs the name suggests, it is the insurance policy for whole life Universal Life InsuranceLife Insurance policy which is permanent Variable Universal Life InsuranceThis insurance policy can be helpful when you are looking for more of a return on policy Joint Life InsuranceLife insurance policy that is suitable for members of the family About Endowment Life InsuranceOne of the policies where the lump sum is paid at the eventual death Types of permanent life insuranceTypes of policies applicable for life on permanent basis Types of Term Life InsuranceOne of the insurances where policy holder is paid during the policy if he dies Types of whole life insuranceTypes of whole life insurance policies discussed above |
